The Med splits
Atlantic naphtha tightens on Russian outage and Brazilian ethanol shift, while deferred MOPJ spreads keep E/W afloat.
07 AUG 26 - 06:44
Naphtha (51)
De-escalation prospects pulls paper down but physical naphtha still tight
More optimism on a reopening of the Strait of Hormuz has pulled down MOPJ cracks and spreads. Nap...
06 AUG 26 - 10:45
Two markets, opposite directions: flat price sells the Oman talks while Asian premiums print fresh t...
Two Saudi tankers hit in the Red Sea and Brent up nearly $30/bbl on the month. The naphtha supply premium stays intact as the arb to Asia keeps pulling from Europe and Houston.
31 JUL 26 - 09:09
Paper complex blinks on de-escalation but the Asian physical explodes on tighter Asian balance
US and Iran paused attacks after 13 days, seeking an agreement on Hormuz in a bid to jumpstart...
28 JUL 26 - 08:34
Red Sea attacks land: naphtha holds its bid on firm cracker demand and open Western arbs
Two Saudi tankers hit in the Red Sea and Brent up nearly $30/bbl on the month. The naphtha supply premium stays intact as the arb to Asia keeps pulling from Europe and Houston.
24 JUL 26 - 10:44
Hormuz closes again: AG loadings freeze and Asia reprices for scarcity
The physical is lagging the paper for now, but with August arb supply at record lows, the setup points higher.
16 JUL 26 - 13:24
Naphtha rips higher as Iran conflict cuts AG supply again
E/W Nap explodes to $50/mt for August contract and above $75/mt in the prompt. The arb to Asia has...
16 JUL 26 - 07:38
